Nifty Won't Dip Below 16400 level

Nifty broke the long term trendline on weekly chart in Nov, It has closed below the trendline 4 weeks in a row, Made a bearish engulfing in Monthly chart. These are all important and correct observations. But not yet enough to make the Conclusion. There is more to the game. At the height of COVID-19, in March 2020, the index (Nifty50) had gone from 11,500 to 7,500. Now the index is around 17,700; we got a raise from 7,500, and from here to maybe 40,000-50,000, 100,000 - we have got to pause, nothing is lenient in life..

View: Nifty is not going to go below 16400 levels. jab ummid tootne hi wali hoti hai tabhi palatati hai haseena bhi aur market bhi...

Transaction en cours:

Took support at mentioned level (16400 level). Nifty may have bottomed out, need more confirmation.